Disney Proxy Fight Is Over After CEO’s Cost Cutting, Says Nelson Peltz
- CEO addressed many of investor’s concerns on earnings call
- Activist calls his campaign a ‘win for all shareholders’
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Trian Partners LP founding partner Nelson Peltz said Thursday his proxy battle with Walt Disney Co. is over.
The activist investor announced in January that he would seek a board seat at the company to try to initiate changes after being rebuffed in his outreach. Peltz changed his mind after Disney Chief Executive Officer Bob Iger unveiled plans for a dramatic restructuring during Wednesday’s earnings call.